📈 Let’s Talk Charting: 3 Easy Ways to Simplify Your Technical Analysis 👨‍🏫

[Image] February 15, 2024 📈 Let’s Talk Charting: 3 Easy Ways to Simplify Your Technical Analysis 👨‍🏫 Good morning, traders. Ben here. If you’ve ever felt overwhelmed by reading charts and technical analysis — you're not alone. Green candles, red candles, volume bars, trendlines … for the uninitiated, making sense of these indicators can be like learning a foreign language. The key is to keep things simple. With too many lines and indicators, it's easy to get lost. But when you clean up your charts and stick to the basics, you can spot the crucial signals — the ones that can make (or break) your account — much faster. In the options market — where positions can move 30%-50% in minutes — being able to quickly understand your charts is crucial. You must learn how to pick the right tools and focus on what really matters, which can potentially help you trade better. Sort the signal (meaningful data) from the noise (useless confusion). It's all about making trading as straightforward as possible, and that's exactly what strong technical analysis can do for you… Keep Your Charts Clean Sometimes I’ll see traders using a chart riddled with dozens of indicator lines crossing into a confusing mishmash, and think … “Why?” Just like having too many trades on your mind, having too many indicators on your charts can do you a major disservice. It may seem like the more indicators you use, the better chance you have of carving out an edge for yourself … but this is a fallacy. Rather, using too many conflicting indicators can lead to more confusion, less directional clarity, and potentially serious eye strain. If your charts look anything like this… (Image courtesy of [Reddit]( … then it’s time for you to remove some indicators! Keeping your charts clean will help you keep a clear head while trading. Plus, not all chart indicators are created equal. I have my favorite technical indicators, but they won’t necessarily work for you. Every trader is unique. You’ve gotta experiment with different indicators to find which ones provide insight into your particular trading system. Then, once you find the indicators that work for you, don’t overcomplicate things. You don’t want your charts to look like an Etch-a-Sketch. Stick to a few reliable technical indicators, like these… Sponsored “GOAT” Scanner Spots 10 Triple-Digit Winners in Past 6 Weeks! This scanner uses Wall Street grade technology to scan over 15,000 stocks in seconds. It detects the 10 stocks most likely to skyrocket in real-time and spotted 10 triple-digit winners just in the first 6 weeks of 2024! It just picked up on a new handful of stocks that could skyrocket any minute now… Want to know what they are? [Join a LIVE demo of this “GOAT” scanner]( Watch Out for Key Price Levels In trading, it’s better to be a sniper than it is to be a gunslinger. [Tim Sykes]( has taught this over and over. This means being picky, selective, and trading the best setups only. And one way to find the best setups is by paying attention to key price levels. By recognizing key price levels, you can take advantage when they start to crack. Here’s how to identify those all-important price regions: The first thing I’ll do is zoom out on a daily or weekly chart and see where the stock has continually failed (or bounced). If the chart bounces at the same price over and over again, that’s a level of historical support. If the chart fails at the same price over and over again, that’s a level of historical resistance. When a volatile stock finally breaks a level of multi-day, multi-week, or even multi-month resistance — that’s usually an ideal time to buy calls. The risk/reward on these trades is fantastic. What’s better, the exact same is true on the downside. Once a key level of support gets taken out, look out below — the stock usually craters. When major support or resistance cracks, a big move is often right around the corner. You can use key price levels to help you enter and exit your trades at the ideal time, just like I do… During my [Spyder Webinars]( I often call out key price levels to use as goalposts for a particular ‘smart money’ sweep. For example, I might alert a specific contract with a note: “Trade these calls above $150.” This means I’m seeing a big bet on the scanner, but don’t want to trade the position until a certain key price level is taken out. By paying attention to — and trading around — key price levels, I avoid a lot of false breakouts and potentially brutal losses. Take Note of Volume Spikes Aside from share price, nothing is more important than daily trading volume. Huge volume spikes often line up with major news catalysts (or a trend reversal in market sentiment). This makes high trading volume valuable as both a historical and a technical indicator. Here’s how to identify this… Draw arrows or text near big surges in daily trading volume. Then, when you see the stock have a day where the volume gets close to its previous highs … pay close attention. That may be an extra-volatile moment to consider making a trade. That said, just as not all technical indicators are created equal — not all volume spikes are created equal, either. I’ve always wanted a way to determine where the volume is coming from. And that’s why I built my [Spyder Scanner]( My scanner gives access to a whole other level of trading volume — the highest-priced bets from the market’s biggest players. This brand of trading volume is an absolutely indispensable indicator of future price movement and so much more valuable than a simple volume spike on a chart. 5 More Technical Indicators I Use Every Day In addition to the major points I’ve already mentioned, here are five more technical indicators that I always make sure to have placed on my charts: - 8, 13, 21, and 34-day exponential moving average (EMA) — a type of moving average that places a greater weight and significance on the most recent data points. - 200-day simple moving average (SMA) — the average price of the stock over a 200-day period, visualized as a “moving” line on the chart. - 14-day relative strength index (RSI) — a momentum oscillator that measures the speed and change of price movements. RSI reads as a number between 0 and 100. (RSI is usually considered overbought when above 70 and oversold when below 30.) - Average true range (ATR) — the average of true ranges over the specified period. This measures volatility while considering any gaps in the price movement. - Volume profile — the volume traded at various price levels over a specified period. Now, before we go, let’s look at a few of… 💰The Biggest Smart-Money Bets of the Day💰 $3.05 million bullish bet on GE 04/19/2024 $150 calls @ $4.35 avg (seen on 2/14) $1.48 million bullish bet on YETI 02/16/2024 $55 calls @ $1.00 (seen on 2/14) $1.95 million bullish bet on AAPL 03/22/2024 $190 calls @ $2.20 (seen on 2/14) Happy trading, Ben Sturgill P.S. It’s time to unlock the trades you've been missing! Without my Spyder Scanner, you're out of the loop on MASSIVE setups that have led me to a 93.3% win rate over 60 recent trades…* Ready to get in the know? TODAY, February 15 at 12 p.m. EST, I’m hosting an urgent live briefing to break down the biggest setups I’m seeing this week. Discover the ‘smart money’ moves that can redefine your trading strategy — [Click here to make missing out a thing of the past](. Sponsored Meet the Avengers of Stock Trading There’s an exclusive trading group that sends out Daily Doubler trades ideas every day. Nobody in the mainstream world of finance talks about, or even knows what “daily doublers” are… But YOU get the chance to be a part of it! [Sign up for FREE Daily Doubler trade ideas here](   66 West Flagler Street STE 900 Miami, Florida 33130 United States [Click Here to Unsubscribe]( *Past performance does not indicate future results **Our gurus teach skills others have used to make money. Any results displayed are extraordinary and are not typical and will vary from person to person. For more info read our [Earning Claims Disclosure]( About: Making money trading stocks takes time, dedication, and hard work. My goal is to teach you how I have succeeded in the market, but you may not achieve my results. Remember, there are risks involved with investing, including the potential loss of money. 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